brian_smith6•20d agoTop Commenter

Finally got our earnest money check to clear after a bank hold

Last Thursday, our $5,000 deposit got flagged by the bank for a 'suspicious' amount. We had to get a letter from our realtor and make three separate calls to the branch manager to get it released. It felt like a huge roadblock right after our offer got accepted. Anyone else have their bank put a random hold on a big check during the buying process?

3 comments

3 Comments

the_emery20d ago

Our $8k check got held for five days too, @eva_thompson.

the_william20d ago

Actually banks are required to hold checks over a certain amount. It's not them being on your side or not, it's just the rule. They have to make sure the money is really there before they give it to you. That hold is for everyone's protection, even if it's annoying. My cousin works at a bank and says people get mad about this all the time, but the bank would get in huge trouble if they didn't do it.

eva_thompson20d ago

Always thought banks were on our side until they held my closing check for a week.